PPI Claim - Is it worth using a Solicitor.

My partner contacted a firm called "Brunel Franklin" back in August- i believe they are a solicitors / claims handling company - with regards to Payment Protection Insurance sold to her on 2 bank loans.

We were amazed yesterday as she has been offered just over £3000 by the bank as settlement for PPI- we will be contacting Brunel Franklin on Monday as to whether we should accept this.

My girlfriend has however told me that Brunel Franklin will take 25% of the final settlement as their fees - we are massively thankful for all they have done but just wondered is this 25% cut the solicitors take common ????

they did nothing you couldn't have done yourself for the cost of a stamp

Original Poster

11th Dec 2011

Two differing pieces of advice guys - the reason i ask is because now seeing the results of my partners claim - i myself will now be submitting one !! Think ive had 4 loans from Natwest since i was 18 so i want to know if i should use a Third party or attempt to do myself, however if i do it myself realistically is it something easy to do.

11th Dec 2011

Hi, I agree 3k and run, chances are you will end up with the 3k again less fees if you take another route. Now the banks are voluntarily paying out there is not need for these companies which make a fortune off your claim.

Supermod

11th Dec 2011

Yes - it is. However, their professional rules state that they can agree with you a figure up to 33% of the amount recovered (must include VAT). They cannot take anything over that.

From personal experience, you have had quite a good result. I wonder if they would have paid out if you conducted the claim yourself. I have done one or two in the past (for clients) and they came to me because they had been trying themselves and got nowhere.

Edited by: "magicjay1986" 11th Dec 2011

Banned

11th Dec 2011

nick1981

Two differing pieces of advice guys - the reason i ask is because now … Two differing pieces of advice guys - the reason i ask is because now seeing the results of my partners claim - i myself will now be submitting one !! Think ive had 4 loans from Natwest since i was 18 so i want to know if i should use a Third party or attempt to do myself, however if i do it myself realistically is it something easy to do.

so you have had 4 loans and all of them specified that you HAD to take out PPI?

Supermod

11th Dec 2011

gbspurs

Hi, I agree 3k and run, chances are you will end up with the 3k again … Hi, I agree 3k and run, chances are you will end up with the 3k again less fees if you take another route. Now the banks are voluntarily paying out there is not need for these companies which make a fortune off your claim.

They aren't all voluntarily paying out. You do need a basis of claim at the very least.

11th Dec 2011

Hi sorry I misunderstood your original post. My post suits for your second question though!!! Don't get a third party involved the banks have been told they have to pay out. Lloyds for example put aside £3bn just to pay any claims.

11th Dec 2011

Yes I assumed the OP has a basis for a claim since obviously his GF did. If you benefited from PPI no good but if you haven't made a claim on it, it's almost impossible for the banks to prove you knew you had it. Hense why they are all setting aside money to pay and have withdrawn from selling it.

Original Poster

11th Dec 2011

Yes ive had 4 loans (possibly more, i was young and stupid during a time when money was constantly being chucked at me - to be quite honest i can remember taking out 2 loans with Natwest to pay off other Natwest Loans........i know i was stupid at the time).Anyway i have always been in full time emplyment and think i had PPI on the the loans - so now maybe its my time to get one over the bank for a change.

11th Dec 2011

You won't lose anything for contacting the bank, most will ask you to fill in a form and in 5 weeks they will write to you and say yay or nay! Best of luck

Original Poster

11th Dec 2011

But sorry if this is a daft question - how do you calculate or of what basis of judgement do you use to know whether you offer is a good one or not.... say for example if they said we will offer you £800, on what basis would you refuse this - and what are the risks in refusing an offer and if the bank then turns around and says ok your getting nothing then.

gbspurs

You won't lose anything for contacting the bank, most will ask you to … You won't lose anything for contacting the bank, most will ask you to fill in a form and in 5 weeks they will write to you and say yay or nay! Best of luck

11th Dec 2011

I have had several loans over the years. Do companies have to tell you if you had PPI on any of the loans or do you have to remember yourself?

Banned

11th Dec 2011

nick1981

Yes ive had 4 loans (possibly more, i was young and stupid during a time … Yes ive had 4 loans (possibly more, i was young and stupid during a time when money was constantly being chucked at me - to be quite honest i can remember taking out 2 loans with Natwest to pay off other Natwest Loans........i know i was stupid at the time).Anyway i have always been in full time emplyment and think i had PPI on the the loans - so now maybe its my time to get one over the bank for a change.

surely you can only claim if you can PROVE PPI was forced upon you as a condition of the loan. COnsidering you cant even recall whether you paid PPI or not isnt the best start to a claim!

Banned

11th Dec 2011

I think some people are getting confused with this whole thing.

The banks arent refunding anyone who took out PPI, they are only refunding PPI when the customer can prove they didnt need (self employed etc), want (signed without their authorisation - hard to prove) or agree to PPI.

Its a process you dont need a solicitor to do for you, can easily be done yourself. All the banks have pretty clear instructions and guidelines on how to enquire on whether you may be entitled to a refund.

Original Poster

11th Dec 2011

I appreciate that - but it would appear my partner was the same as me and was unsure if she had it, it turned out she did and now it turns out the solicitors have proved she didnt need.............comprenday ?????

csiman

surely you can only claim if you can PROVE PPI was forced upon you as a … surely you can only claim if you can PROVE PPI was forced upon you as a condition of the loan. COnsidering you cant even recall whether you paid PPI or not isnt the best start to a claim!